Business- balance sheets 3.0 / 5 based on 1 rating ? Business StudiesBalance sheetsGCSEEdexcel Created by: hannah.monksCreated on: 08-04-16 14:05 Fixed assets Items owned by the business which is expected to keep for a long time. E.G. Premises 1 of 5 Current assets Items owned by the business or owed to the business. E.G. Stock 2 of 5 Long-term liabilities Oweed by the business which are due to paid longer than a year. E.G. Mortgage 3 of 5 Current liabilities Owed by the business to be paid in less than a years time. E.G. Suppliers 4 of 5 What is a balance sheet? Tells you what a business owns at any one time and what it owes. 5 of 5
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